News
Over Ten Bills to be Presented in Parliament
Government has announced that there are number of important Bills which it intends to present at the Second Special Meeting of the 2023/2024 Parliamentary session scheduled to commence tomorrow, Thursday, 23 November, 10:00 a.m.
The bills include the National Pensions (Amendment) Bill, 2023, which seeks to increase the maximum amount for withdrawals from pension plans to make deposits on the purchase or construction of homes, purchasing residential property, making reduction payments on mortgages or real estate loans and paying off mortgages.
In commenting on the upcoming Parliamentary meeting, Premier Hon. Juliana O’Connor-Connolly stated that priority will be electing the Speaker of the House of Parliament. She also noted, “Our Government will continue to pursue an active legislative agenda with a number of bills to be passed. I feel certain that members of the community will be keen to follow the debates during this session and particularly those surrounding the National Pensions (Amendment) Bill, which aligns with the Government’s commitment to support economic and housing needs in the Cayman Islands by improving the likelihood of homeownership for Caymanians and easing the cost of living with a reduction in mortgage balances.”
The other substantive Bill to be considered is the Beneficial Ownership Transparency Bill, 2023. This includes ancillary amendments to the following:
Companies (Amendment) Bill, 2023
Limited Liability Companies (Amendment) Bill, 2023
Limited Liability Partnership (Amendment) Bill, 2023
Foundation Companies (Amendment) Bill, 2023
Mutual Funds, (Amendment) Bill, 2023
Insurance (Amendment) (No. 2) Bill, 2023
Companies Management (Amendment) (No.2) Bill, 2023
Banks and Trust Companies (Amendment) Bill, 2023
Virtual Asset Service Providers (Amendment) (No. 2) Bill, 2023
A government motion concerning the Development and Planning (Amendment) Regulations, 2023, will also be addressed during the special meeting.
Members of the public can watch and listen to sessions of Parliament live on CIGTV, Cayman Islands Government’s Facebook and YouTube as well as Radio Cayman. They can also visit www.parliament.ky for more information.
